We recently compiled a list of the 12 Wealthiest People in Netherlands, and in this article we will look at the richest individual.
The Future of the Dutch Economy
According to a report by the European Union, the Netherlands reported slow economic growth in 2023, due to a decline in private consumption and exports. The Dutch economy is expected to reach a growth rate of 0.8% in 2024 and 1.5% in 2025 due to an increase in real wages, which are expected to have a positive effect on consumer and government spending. On the other hand, business investment in the Netherlands is expected to remain weak and sluggish due to declining business confidence and labor shortage. While the labor market is still slow, it seems to be easing as available vacancies are expected to surpass the number of unemployed people in the country. The unemployment rate is expected to reach 3.9% in 2024 and 4% in 2025. Wage growth, on the other hand, may reach 5.9% in 2024 and 3.8% by 2025. While the Dutch economy corrected itself in the first quarter of 2024, skilled labor shortage in tech and science will remain a primary concern for companies and employers. You can also take a look at the wealthiest people in South Korea.
The Climate in the Netherlands’ Semiconductor Industry
On March 6, Reuters reported that semiconductor startups in the Netherlands are receiving increasing funding from the Economic Affairs Ministry to improve tech entrepreneurship. Venture capital for chip startups reached EUR 216 million ($231 million) in 2023, growing for the fifth consecutive year. As per the report, Dutch startups are more likely to be acquired before they reach a valuation of EUR 1 billion ($1.07 billion), as compared to startups in the United Kingdom, Germany, and France. To counter this, the Dutch government is focusing on improving its university-level research and increasing funding for deep tech companies. You can also read our piece on the wealthiest people in Germany.
Due to its stringent business policies, the Dutch government is currently dealing with mistrust from companies. ASML Holding N.V. (NASDAQ:ASML) dominates the lithography business and is an important stakeholder in the Dutch economy. On March 6, Reuters reported that the Dutch government was in talks with ASML Holding, requesting it to not leave the country, as the company considers pursuing growth strategies abroad amid rising demand for chips. ASML Holding N.V. (NASDAQ:ASML) is the largest tech company in the Netherlands and is crucial for the tech advancements in the country. Previously Unilever and Shell left the country due to stringent tax laws, which increases the threat of ASML Holdings leaving the Netherlands as well.
On the flipside, on May 23, ASML Holding N.V. (NASDAQ:ASML) and the Eindhoven University of Technology agreed to spend EUR 180 billion ($192.5 billion) on semiconductor research in the coming decade. While the company has been struggling with its expansion plans and meeting global demand, the initiative will increase the availability of PhDs and scientific research in the chip industry. The university plans to allocate EUR 100 billion ($107 billion) to run an advanced cleanroom facility for semiconductor research in physics, mechatronics, optics, and AI. ASML Holdings on the other hand will be investing EUR 80 billion ($85.6 billion). Previously in March, the Dutch government shared its plans to invest $2.7 billion in Project Beethoven, to improve housing, roads, and electric grids to ensure the semiconductor equipment giant does not move operations abroad.
One of the Largest Companies in the Netherlands
ASML Holding N.V. (NASDAQ:ASML) is currently the world’s biggest chip equipment maker. The company provides equipment to some of the largest chipmakers in the world, to make chips smaller, faster, and more sustainable. The company makes extreme ultraviolet lithography systems and deep ultraviolet lithography systems. It provides companies with hardware and software services to produce mass silicon using lithography machines. Its latest NXT machines can run over 6,000 wafers every day, a productivity rate increase of 5% over the past 12 months. ASML Holding’s (NASDAQ:ASML) dry NXT system, TWINSCAN NXT:1470, is the first platform in the industry to produce more than 300 wafers per hour. Overall, the TWINSCAN product line produces 200 mm and 300 mm wafers, increasing productivity in the IoT, automotive, and industrial markets.
ASML Holding N.V. (NASDAQ:ASML) reported EUR 5.3 billion ($5.7 billion) in sales during the first quarter of 2024. Of those, EUR 1.8 billion ($1.93 billion) came from the sale of 12 extreme ultraviolet (EUV) systems and EUR 4 billion ($4.28 billion) came from net system sales. 63% of net system sales came from logic and 37% were driven from memory. The company spent EUR 1.32 billion ($1.4 billion) on research and development during the first quarter of 2024, and net income reached EUR 1.2 billion ($1.28 billion), 23.1% of total sales. Net bookings in Q1 2024 were EUR 3.6 billion ($3.85 billion), of which EUR 656 million ($701.6 million) came from EUV bookings. In the last six months, ASML (NASDAQ:ASML) logged EUR 13 billion ($13.9 billion) in net bookings and expects sales to range between EUR 5.7 billion ($6.1 billion) and EUR 6.2 billion ($6.6 billion) in the second quarter of 2024.
Ahead of 2024, the company expects strong revenue growth for its EUV business. On the other hand, It expects logic revenue to report sluggish growth as customers get acquainted with its new lithography capacity developed in the past year. On June 3, ASML Holding N.V. (NASDAQ:ASML) and Imec announced the launch of a High NA EUV Lithography Lab in Veldhoven, the Netherlands. The lab is run by both parties involved. It has been under development and training for years and is now capable of providing memory chip makers and materials and equipment suppliers access to its prototype of the High NA EUC scanner along with processing and metrology tools. The lab will enable high-volume manufacturing of High NA EUV between 2025 and 2026. The scanner helps all stakeholders get acquainted with the new technology and develop high NA EUV use cases supporting them in their production fabs. The scanner will drastically improve the patterning ecosystem pushing High NA EUV to new heights.
Overall the business climate of the Netherlands may be uncertain, however, companies like ASML Holding N.V. (NASDAQ:ASML) are crucial to the success of the country. Despite current headwinds, the company expects sales to reach EUR 44 billion ($47.06 billion) to EUR 60 billion ($64.17 billion) by 2030, doubling from EUR 26.7 ($28.6 billion) billion in 2023.
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Our Methodology
To compile our list of the 12 wealthiest people in Netherlands, we utilized the real time billionaires data from Forbes and ranked the wealthiest people in the Netherlands in ascending order of their net worths, as of June 24.
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The Wealthiest Person in Netherlands
1. Charlene de Carvalho-Heineken
Net Worth as of June 24, 2024: $14.3 Billion
Charlene de Carvalho-Heineken is the richest person in the Netherlands. She and her family have a net worth of $14.3 billion, making them the 137th richest people in the world. She owns a 24% stake in Heineken, one of the largest beer companies in the country. She inherited her share from her late father, who was the chief executive officer of Heineken. The 69-year-old billionaire is a dropout from the University of Leiden and currently lives in London, United Kingdom. Before she inherited control of the beer company she was a stay-at-home mom.
Curious to learn about other wealthy individuals in the Netherlands? Check out our report on the 12 Wealthiest People in Netherlands.
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